MRV Completes Local Bond Sale

Brazil’s MRV Engenharia has finalized the placement of BRL500m ($310m) in local bonds. The homebuilder’s 2016 were priced at the DI rate plus 1.5%, matching the ceiling it had set. The bonds amortizes in each of the final 2 years. MRV is raising funds to adjust its debt profile. Banco do Brasil managed the sale, done under rule 476. MRV is rated AA minus on a national scale.